GE Shipping reports three fold increase in net profit at Rs 299 cr for December quarter

India's largest private shipping company Great Eastern Shipping Monday reported over three-fold increase in consolidated net profit at Rs 298.63 crore for the quarter ended December 31, 2018. The company had clocked Rs 98.19 crore profit in the corresponding quarter of 2017-18.

Total income went up by 24.80 per cent to Rs 1,044.18 crore during the quarter under review compared with Rs 836.67 crore in the year-ago period. Expenses during the quarter under review stood at Rs 913.61 crore, up 20.37 per cent as against Rs 758.97 crore reported in October-December quarter of the previous fiscal. Great Eastern Shipping shares settled 3.96 per cent lower at Rs 285 apiece on BSE.